A new currency for West African states: The theoretical and political conditions of its feasibility
Recent developments in the monetary situation in West Africa, in particular the transformation for the CFA franc area and the project to build a single currency for the CEDEAO/ECOWAS, require a systematic review of the assumptions underlying the formation of monetary unions. The article provides a c...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Associazione Economia civile
2020-03-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/16637/pdf |
| _version_ | 1818138501335482368 |
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| author | Massimo Amato Kako Nubukpo |
| author_facet | Massimo Amato Kako Nubukpo |
| author_sort | Massimo Amato |
| collection | DOAJ |
| description | Recent developments in the monetary situation in West Africa, in particular the transformation for the CFA franc area and the project to build a single currency for the CEDEAO/ECOWAS, require a systematic review of the assumptions underlying the formation of monetary unions. The article provides a critical review of the traditional theoretical foundations of optimal currency areas (OCAs) and their subsequent amendments, in light of the problems that emerged in the most relevant monetary unions. On specific points, a comparison is made between the eurozone and the CFA zone. The article then investigates the specific characteristics of the monetary area affected by the reform project, and finally it indicates the main lines along which the project of a common currency to all the states that currently make up the CEDEAO/ECOWAS could evolve, identifying four possible alternative roadmaps. |
| first_indexed | 2024-12-11T10:13:12Z |
| format | Article |
| id | doaj.art-354b196c46ee4de5b7bbb381fd3a28a0 |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-12-11T10:13:12Z |
| publishDate | 2020-03-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-354b196c46ee4de5b7bbb381fd3a28a02022-12-22T01:11:42ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432020-03-0173292326https://doi.org/10.13133/2037-3643_73.292_1A new currency for West African states: The theoretical and political conditions of its feasibilityMassimo AmatoKako NubukpoRecent developments in the monetary situation in West Africa, in particular the transformation for the CFA franc area and the project to build a single currency for the CEDEAO/ECOWAS, require a systematic review of the assumptions underlying the formation of monetary unions. The article provides a critical review of the traditional theoretical foundations of optimal currency areas (OCAs) and their subsequent amendments, in light of the problems that emerged in the most relevant monetary unions. On specific points, a comparison is made between the eurozone and the CFA zone. The article then investigates the specific characteristics of the monetary area affected by the reform project, and finally it indicates the main lines along which the project of a common currency to all the states that currently make up the CEDEAO/ECOWAS could evolve, identifying four possible alternative roadmaps.https://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/16637/pdfmonetary unionecocfa franceurozone |
| spellingShingle | Massimo Amato Kako Nubukpo A new currency for West African states: The theoretical and political conditions of its feasibility PSL Quarterly Review monetary union eco cfa franc eurozone |
| title | A new currency for West African states: The theoretical and political conditions of its feasibility |
| title_full | A new currency for West African states: The theoretical and political conditions of its feasibility |
| title_fullStr | A new currency for West African states: The theoretical and political conditions of its feasibility |
| title_full_unstemmed | A new currency for West African states: The theoretical and political conditions of its feasibility |
| title_short | A new currency for West African states: The theoretical and political conditions of its feasibility |
| title_sort | new currency for west african states the theoretical and political conditions of its feasibility |
| topic | monetary union eco cfa franc eurozone |
| url | https://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/16637/pdf |
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